Okay, fine, I’m an overachiever. Ignore this part in the video…. How about this? If each of you will send me your answers, I will get the test set up. 🙂 Thank you for playing!
Title Company Questions
Kayla Dodd answer these:
1. Must a Buyer or Seller be present at the closing?
2. Does the agent have to come to the closing?
3. What does the term, “Simultaneous Issue” mean?
4. Is a survey needed to close on the property?
5. What does the term “Legal Description” mean?
Ben Seamon answer these:
6. Who is suppose to pay for the title policy?
7. Does the title company always hold the earnest money?
8. Can someone be on the Deed to the property that is not on the loan?
9. Can a power of attorney be used if the property is in one state the POA is from another state?
10. What is an ALTA statement?
Mortgage Company Questions
Brad Chastain these:
1. What does THDA Stand for?
2. Who pays for the termite letter on VA loans.
3. What is an FHA Amendatory Clause?
4. What credit score is required on FHA loans?
5. I teenager is 17 years old working at McDonalds living their parents home. The parents are applying for a THDA loan. Is the teenager’s income counted as household income?
Matt Helton answer these:
6. How long is an FHA appraisal good for?
7. Is child support counted as a debt if the paying spouse has not actually been paying it?
8. What does PITI stand for?
9. What is MIP and why do we have it?
10.What is Fannie Mae?